Worldwide Customer Relationship Management Industry to 2027 – Featuring Insightly, Microsoft and Salesforce Among Others – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Customer Relationship Management Market by Component and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering.

Customer relationship management (CRM) includes combination of strategies, technologies and practices that are used by organization to analyze and manage interactions between customer and organization as well as to collect data throughout the customer lifecycle. Its goal is to enhance customer and company relationships and help in customer sustainability and increases the sales growth. Customer relationship management systems gather customer data from all different channels, points of contact, which is work between the customer and the organization. This channel includes the brand website, inbound and outbound calls, direct mail, live chat and social networks. Customer relationship management systems can also provide a customer’s detail personal information along with his location, purchase history, buying preferences this will make easy to organization to sustain customer for long time.

Numerous factors such as increasing focus on customer engagement for long time and increasing use of customer relation management software in the small and medium scale enterprises drives the growth of the market globally. Moreover the worldwide acceleration of digital transformation in enterprises due to COVID-19 outbreak boosts the growth of the market. However, lack of security about the privacy of customer information and high initial installation cost of this software may restrain the growth of the market globally. Furthermore, increasing adoption of bring your own device (BYOD) ecosystem due to surge in use of smartphone as well as high operational efficiency and less operational cost of the CRM software will create lucrative opportunity in the CRM market in forecast period.

Customer relationship management market is segmented into component, deployment mode, organizational size, application, industry vertical, and region. By component, it is bifurcated into software and service. Depending on deployment mode, it is categorized into on-premise, cloud, and hybrid. On the basis of organization size, it is categorized into large scale and small and medium size enterprises. As per industry vertical, it is classified into BFSI, healthcare, energy & utility, IT & telecommunication, retail & e-commerce, manufacturing, government & defense and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

• The study provides an in-depth analysis of the customer relationship management market along with the current trends and future estimations to elucidate the imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on the customer relationship management market size is provided.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the customer relationship management.
• The quantitative analysis of the customer relationship management market from 2019 to 2027 is provided to determine the Customer relationship management market potential.

Market Dynamics

Drivers

• Increasing focus towards customer engagement and retention for long time among small and medium scale enterprise
• The worldwide acceleration of digital transformation in enterprises due to COVID-19 outbreak boosts the growth of the market

Restraints

• Lack of security about the privacy of customer information and high initial installation cost of CRM software

Opportunities

• Increasing adoption of bring your own device (BYOD) ecosystem due to surge in use of smartphone
• High operational efficiency and less operational cost of the CRM software will create lucrative opportunity in the CRM market

Key Market Players

• Insightly, Inc
• Microsoft Corporation
• Netsuite Inc.
• Oracle Corporation
• Pegasystems
• Sage Group plc
• Salesforce.com, Inc
• SAP SE
• SugarCRM
• Zoho Corporation Pvt. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/7qeath

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